Palantir Technologies (NYSE:PLTR) Shares Down 2.7% Following Insider Selling

Palantir Technologies Inc. (NYSE:PLTR)’s stock price fell 2.7% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $53.55 and last traded at $54.03. 52,505,363 shares were traded during trading, a decline of 8% from the average session volume of 57,128,504 shares. The stock had previously closed at $55.53.

Specifically, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $353,967,157.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the completion of the transaction, the insider now owns 562,006 shares in the company, valued at approximately $28,077,819.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the sale, the director now directly owns 130,250 shares in the company, valued at approximately $6,576,322.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

PLTR has been the subject of several analyst reports. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research report on Thursday. Wedbush increased their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. DA Davidson upped their price objective on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Bank of America boosted their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.71.

Palantir Technologies Stock Up 4.5 %

The company has a market cap of $130.83 billion, a price-to-earnings ratio of 292.11 and a beta of 2.70. The company has a fifty day simple moving average of $40.13 and a two-hundred day simple moving average of $30.59.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period last year, the firm posted $0.03 EPS. On average, research analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Institutional Trading of Palantir Technologies

A number of large investors have recently made changes to their positions in the stock. LPL Financial LLC raised its holdings in Palantir Technologies by 22.8% in the 3rd quarter. LPL Financial LLC now owns 3,100,520 shares of the company’s stock valued at $115,339,000 after acquiring an additional 575,790 shares during the last quarter. Trustmark National Bank Trust Department purchased a new stake in Palantir Technologies during the 3rd quarter worth $207,000. Advisors Asset Management Inc. grew its stake in shares of Palantir Technologies by 76.0% in the third quarter. Advisors Asset Management Inc. now owns 53,665 shares of the company’s stock valued at $1,996,000 after buying an additional 23,178 shares in the last quarter. Kirtland Hills Capital Management LLC lifted its position in shares of Palantir Technologies by 128.2% during the third quarter. Kirtland Hills Capital Management LLC now owns 27,312 shares of the company’s stock worth $1,016,000 after purchasing an additional 15,344 shares in the last quarter. Finally, Strategy Asset Managers LLC purchased a new position in Palantir Technologies in the 3rd quarter valued at about $927,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.